Costco price target raised to $830 from $765 at Barclays

Barclays raised the firm’s price target on Costco to $830 from $765 and keeps an Equal Weight rating on the shares. The company’s June comps were solid and up slightly versus May, supporting a better Q4-to-date, the analyst tells investors in a research note. The firm says the membership fee increase has been highly anticipated but still positive and comes from position of strength as member count has been growing 7% year-over-year in the last two years and renewal rates are at record highs.